1794 $1 XF45 PCGS. Ex: Troy Wiseman Collection. B-1, BB-1,
R.4. Die State IV. This is a later die state with the obverse die
lapped, shortening the tips of the hair curls, especially toward
the bottom. Representing the initial year of production for regular
issue silver coins and the dollar denomination, the 1794 was
destined to be a classic of United States coinage. This is one of
the most important issues ever struck at the Philadelphia Mint. But
it is also one of the most elusive silver dollars ever struck, with
only 1,758 pieces deemed satisfactory, all from a single pair of
dies. An unknown additional quantity were thought to have been
rejected and perhaps later used as planchets (at least one 1795
dollar is known struck over a 1794). Most students believe that
about 125 to 130 examples of this issue are known, based almost
exclusively on the research of the late Jack Collins, and continued
by Martin Logies. This example is the 20th specimen listed in
Logies' reference, although some of the higher grade pieces are
damaged and repaired. In terms of overall desirability, we suggest
that this example is among the top dozen. The acquisition of a 1794
silver dollar in any cabinet establishes the collector as a true
student of numismatics and a connoisseur of early American
coinage.
Apparently after the 1794 copper trial striking was produced and
the first several dollars came off the presses, the dies went out
of alignment causing the left obverse stars to appear weakly
struck, a characteristic seen on virtually every known example,
including this one, although the stars and date at the lower left
are stronger than on many examples. The medium-gray surfaces,
accented in slightly deeper steel-violet hues, are well balanced in
all other areas and are about as pleasant as one could hope to find
on a mid-grade 1794 dollar. The obligatory adjustment marks are
randomly located about the margins and are generally unobtrusive,
the deepest found about the D in UNITED. A pinpoint mark above the
eagle's beak could also be used for identification. Encapsulation
prevents a thorough examination of the edges, but there appears to
be a small obverse rim bump to the right of 6 o'clock and another
on the reverse at 2 o'clock. A few short scratches are evident
along the upper obverse border, and faint adjustment marks are
noted along the reverse border. The most significant of these is a
small mark at the right side of the D, an obvious pedigree
characteristic. Overall, an exceedingly nice example of this famous
silver dollar rarity.Ex: Harlan P. Smith (S.H. and H. Chapman, 5/1906), lot 403;
later, Stack's (6/1989), lot 1998; Jascha Heifetz Collection
(Superior, 10/1989), lot 3814; Frontenac Sale (Bowers and Merena,
11/1991), lot 2195; 1997 ANA (Heritage, 7/1997), lot 6470; Richmond
Collection (David Lawrence, 11/2004), lot 1443.
From the Troy Wiseman Collection.(Registry
values: N10218) (NGC ID# 24WY, PCGS# 6851)